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Capita appointed as servicer to NAMA loans, creating 140 jobs

Capita Asset Services has secured a new contract with NAMA, which will result in the creation of new jobs.

The company, which is part of Capita plc, has been appointed the primary and special loan servicer on the NAMA bought loans under the NAMA Act of 2009.

The loans are currently being managed on behalf of the National Asset Management Agency by the Irish Bank Resolution Corporation. The contract is worth €80m over four years.

Under the terms of the deal, Capita will provide primary servicing for NAMA loans with nominal balances of about €41 billion.

Capita has been acting as the main servicer to NAMA since 2010 and will continue in this role as well as the new contract.

The company has over 800 employees in Ireland and said earlier this year that it wants to double that headcount over the next three years.

''The contract is an excellent strategic fit for Capita in that it fully complements our existing business in terms of services, clients and professional staff and we are pleased to welcome all new members of staff,'' commented Capita Asset Services' chief executive Robbie Hughes.